Mideast KFC operator Americana raises $1.8bn from IPO

Mideast KFC operator Americana raises $1.8bn from IPO

Americana will be the first company to have its shares traded in both Riyadh and Abu Dhabi

Abu Dhabi

Abu Dhabi’s GDP grows 11.2% in the first half of 2022

Abu Dhabi’s non-oil GDP grew to Dhs273bn, contributing more than 50 per cent to the emirate’s real GDP

cyberattacks

Awareness and cooperation key to warding off cyberattacks

The increase in cyberthreats is driven by digitisation of various aspects of lives, creating valuable sources of information for threat actors

ADX

Abu Dhabi Securities Exchange launches rebranded ETF platform

ADX has witnessed strong year-to-date growth in the ETF market’s trading activity with around 12,500 trades of 243 million units

First Emirati mission to the Moon will now launch on November 30

The new launch date remains contingent on the weather status and other conditions

Honor

‘Honor Magic Vs’ foldable phone launches in China

The device weighs 261g and is said to be the industry’s lightest foldable smartphone currently

Anwar Ibrahim becomes Malaysia PM after decades of waiting

Anwar’s swearing in will be at 5pm local time

Dubai Islamic Bank prices $750m inaugural sustainable sukuk

Dubai Islamic Bank prices $750m inaugural sustainable sukuk

The transaction marked the largest issue size in international capital markets by a GCC bank since February 2022

Emirates A380 returns to Perth

Emirates boss sees unprecedented travel surge once China reopens

Tim Clark said Emirates flights to Asian destinations that have already reopened are essentially full

Revealed: Winners of the Gulf Business Awards 2022

The awards celebrated stalwarts and companies from across the region’s business landscape

COP28 will be UAE’s most important event in 2023, says Sheikh Mohammed

COP28, which will be hosted in 2023 at Expo City Dubai, will welcome high-level participation including over 140 heads of state and government leaders, 80,000 delegates and more than 5,000 media professionals

Etihad offers discounted fares to select destinations

Abu Dhabi’s Etihad offers discounted fares to select destinations

Guests will be able to travel to Istanbul at fares starting at Dhs1,995 for economy class and Dhs11,995 for business class

Dubai's Emirates to add seasonal direct flight to Colombo

Dubai’s Emirates to add seasonal direct flight to Colombo

The carrier’s second daily flight will operate directly between the two cities, except during December 16-30, when the Dubai-Colombo service will stop over in Male

Saudi Investment

Saudi Investment talks boost Kakao Group’s battered shares

The Public Investment Fund is in talks with Singapore’s GIC Pte to jointly fund up to 800bn won ($591m) ahead of Kakao Entertainment’s initial public offering due next year

Saudi Aramco signs 59 agreements to foster local industrial ecosystem

The purchase agreements with local and global manufacturers are valued at $11bn, and will reinforce supply chain resilience

Changpeng Zhao, founder and CEO of Binance,

Binance CEO Zhao seeks Middle East cash for crypto recovery fund

Details on the size of the fund and the projects to support are still not decided and it’s likely several weeks before the vehicle takes off

Abu Dhabi’s Masdar inks agreement to develop solar plant in Turkmenistan

The agreement builds on the Masdar-Turkmenistan MoU signed last year for development of renewable energy projects

chess

The Arab Esports Federation moves into Web3 and launches online chess platform

The federation is headquartered in Riyadh and is led by Prince Faisal bin Bandar bin Sultan

Asus

How ASUS ExpertBook B5 Flip gives businesses a competitive edge

ASUS ExpertBook B5 Flip offers an ergonomic design, robust security features and seamless networking connectivity for business users

Dubai South

UAE’s Azizi signs deal to purchase Dubai South plot

The newly acquired land is part of Dubai South’s Golf District

Saudi Arabia announces public holiday after historic FIFA World Cup win

Saudi Arabia stunned Argentina in a 2-1 win, to mark an unprecedented entry into the football tournament

Kuwait’s Jazeera Airways to launch new route to Turkistan

The new service will commence on December 3, and service demand for religious and cultural tourism

FIFA World Cup: Saudi beat Argentina

FIFA World Cup Qatar 2022: Saudi Arabia beat Argentina

In one of the greatest World Cup shocks in history, Saudi Arabia beat football favourites Argentina 2-1 in their Group C opener at the Lusail Stadium

UAE’s GDP to grow more than 6% in 2022, says IMF

The fund expects the country’s non-hydrocarbon growth to be around 4 per cent in 2023

QatarEnergy inks 27-year deal to supply LNG to China

QatarEnergy inks 27-year deal to supply LNG to China

The liquified natural gas will be supplied from QatarEnergy’s North Field East expansion project to Sinopec’s receiving terminals in China

Qashio

UAE-based fintech Qashio raises $10m in a seed round

The company’s virtual and physical cards combined with its software allow businesses to manage their spending in a more automated and transparent way

Ferrari unveils its first four-door, four-seater model Purosangue

Ahead of its anticipated launch, Giorgio Turri, general manager of Ferrari Middle East, talked to Gulf Business about the Italian carmaker’s foray into this new space and the direction it heralds for the company

Komainu

Komainu secures MVP licence from Dubai’s Virtual Assets Regulatory Authority

The company can now offer an approved range of virtual asset related services to institutional investors in Dubai

Dubai announces three day super sale with up to 90% discounts

Dubai announces three day super sale, up to 90% discounts

The 2022 edition of the bi-annual promotion will take place from November 25-28, with reductions of up to 90 per cent across lifestyle, beauty, fashion, electronics

Noon.com Yellow Friday Sale

Noon.com’s Yellow Friday sale begins, discounts up to 80%

Running from November 20 to 27, customers can expect up to 80 per cent off millions of products and money-saving bank offers